Gasoline

Gasoline Rises to $2.45 Per Gallon

March 24, 2015
• by Staff

Photo via Wikimedia.

The price of a gallon of unleaded gasoline rose 0.4 of a cent to $2.457 per gallon for the week ending March 23, according to federal records.

The per-gallon price remains $1.092 less than it was a year ago, and registered a mixed week in the regions tracked by the U.S. Energy Information Administration. The price rose in two of the nine regions tracked, including a 10.6-cent increase to $2.391 in the Midwest. It rose 1.5 cents to $2.303 in the Rocky Mountain region. Prices fell in seven other regions, including a 6.9-cent decline to $3.047 on the West Coast and a 5.4-cent decline to $2.392 in New England.

Prices also fell in the states as tracked in the AAA's Daily Fuel Gauge Report. Gasoline costs more than $3 per gallon in California ($3.269) and Hawaii ($3.151). Gasoline in nine other states costs at least $2.50 per gallon. South Carolina ($2.106) remains the state with the lowest average price.

Meanwhile, the price of diesel fell 5.3 cents to $2.864. Diesel now costs $1.124 less than it did a year ago.

The average fuel economy of new vehicles sold in the U.S. in December fell to 25 mpg — down 0.2 mpg from a revised November value, according to Brandon Schoettle and Michael Sivak, researchers from the University of Michigan's Transportation Research Institute (UMTRI).

The national average price of unleaded gasoline jumped 5 cents to $2.49 per gallon in the first week of 2018 and has reached a level not seen since 2014 during the week that starts the new year, according to AAA.

China is setting a deadline for automakers to end the sale of fossil-fuel powered vehicles as the country looks to reduce oil consumption and pollution and push for the development of electric vehicles. Regulators are working on a timetable for the ban.